Las víctimas olvidadas de Stanford ahora disponible en español

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Thursday, February 12, 2015

Ex-ambassador says he ‘had no earthly idea’ of Stanford fraud

Former U.S. Ambassador Peter Romero looked straight at his seven jurors Wednesday and told them that in seven years working as a key adviser to Allen Stanford, he never had a clue that the man who had helped hire him away from the State Department in 2001 was a criminal or a cheat.

 “I had no earthly idea that Stanford Financial Group was a Ponzi scheme,” Romero said.

 Stanford is serving 110 years in prison, and about 20,000 investors who bought his bank’s certificates of deposit over at least 10 years have recovered only a penny on the dollar as more than $5 billion disappeared in the widest-reaching financial fraud in modern history.

 Romero is being sued for $1.1 million, including $700,000 in fees, plus expenses, that Stanford paid him over seven years to sit on his international advisory board. The trial is in federal court in Dallas before U.S. District Judge David C. Godbey.

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